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Scandex Market Update – May 19

Scandinavian Capital Markets

Gold is pulling back to the top side of former triangle resistance. If gold is bullish, then suppport should be 1716/22. I’m looking to buy in that zone for resumption of upside. If the noted zone fails to hold, then gold would turn extremely bearish because the recent breakout would be considered a completed terminal thrust from a triangle.

Scandinavian Capital Markets Review

Source: https://scandex.com/2020/05/19/market-update-may-19/
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